Topline
The Federal Reserve is far from certain that its war on inflation is over and is willing to hike interest rates past their current 22-year high if necessary, the central bank’s chairman Jerome Powell said Wednesday, dousing the stock market’s recent surge spurred largely by optimism about the direction of monetary policy.
Key Facts
The Fed is “not confident” its current policy is “sufficiently restrictive” to bring down annual inflation to its 2% long-term target, Powell said in prepared remarks at an International Monetary Fund panel.
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